The home is geared towards 1st time homebuyers in B class neiighborhood, but there is alot of competition including new construction in the area. 

@Scott Weaner, thanks for the input. the market is competitive and this is likely one of the deals where a small apartment building has come detached from a reasonable cash on cash return. thank you for your input.

Have to chime in...just imo, why would you invest in a condo when your closest competition is an apartment?

sounds like fun - Colin from roto rooter has been my best plumber beating all the competition and doing a stellar job.

It is priced competitively, but I do not owe a mortgage on the house, so, can be somewhat flexible.

is that I've imagined the culture to be cut-throat and uber-competitive.

Currently I am facing very high competition in MLS basically any property I go for is on the contract or have multiple offers or is a cash buy.

This will help me get financing with the banks & more competitive rates.

If you are interested in being a business owner then build a business plan, check the laundry/car washing competition and evaluate the income/expenses accordingly. 

Granted, my situation is a little different than most of the REI's on this board but I've been able to leverage manufacturer direct pricing in order to have Home Depot get more competitive when it comes to bidding on rehab projects...